Cryptocurrency analyst nicknamed Altcoin Sherpa says SEI is poised for a deep pullback after rallying nearly 90 percent in a month. The analyst also expects declines for MANTA and BTC. Crypto analyst David predicts that AVAX will continue to correct in the near term.
SEI price forecast: A 30% drop is on the cards for cryptocurrency!
Altcoin Sherpa says the native token of layer-1 Blockchain Sei (SEI) is poised for a 30% pullback. According to the analyst, investors will have the opportunity to accumulate the altcoin at the 0.50 Fibonacci level around $0.48. Altcoin Sherpa is confident about this for cryptocurrency. In this context, the analyst says:
This is because the first 0.382 Fibonacci zone around $0.58 was touched before and resulted in a strong reaction. However, I think we will eventually see lower levels. SEI is not something to buy personally in the short term.
Meanwhile, at the time of writing, SEI was trading at $0.59, down more than 12% on a daily basis. The cryptocurrency is still above the $0.48 level pointed out by the analyst.
MANTA price prediction: It makes no sense to buy up to 2 dollars!
Altcoin Sherpa is also looking at privacy-focused cryptocurrency project Manta Network (MANTA). The analyst predicts that the altcoin will likely head lower. In this regard, the analyst points to the following level:
MANTA: Moving into new coins is probably a good idea for Binance. This has a decent amount of TVL (total value locked). But I personally wouldn’t buy it until the low $2s.
Meanwhile, at the time of writing, MANTA was trading at $2.42, down 2.42% on a daily basis. Therefore, it is still above $2, which the analyst sees as the buy level for the cryptocurrency.
BTC price prediction: The next area for the leading cryptocurrency is $36 thousand!
Altcoin Sherpa finally covers the leading cryptocurrency Bitcoin (BTC). The analyst predicts that BTC will likely break below the key psychological support of $40,000. In this regard, the analyst makes the following statement:
BTC this area ($41,600) is still support for now but the next area will be $36,000. Numerous 200-day EMA (exponential moving average), 0.382 Fibonacci [seviyesi] The merger with / support shows this. I think these make it a very easy long position.
AVAX price prediction: Where will the altcoin find support?
cryptokoin.comAs you follow from , the Avalanche (AVAX) price has fallen after reaching a yearly high of $50 on December 24, 2023. This high was just below the long-term resistance zone at $54. During the week of December 25-31, 2023, the AVAX price fell and formed a bear engulfing formation (red ellipse). This is a bearish pattern that usually appears at the end of an uptrend. Indeed, two candles with long upper wicks in the next two weeks confirmed this. It shows that the cryptocurrency price has formed a local top and a deep correction is in progress.
Meanwhile, the weekly RSI has fallen below 70 and is sloping downwards. Therefore, this shows that the bulls have lost control. Therefore, AVAX’s price is likely to continue correcting towards the previous horizontal resistance zone at $22-24, which corresponds to a decline of 24.14% from the current price. Additionally, this zone coincides with the 0.618 Fib retracement level of the entire upward move. Therefore, the cryptocurrency is likely to provide a bounce once the price reaches it.
The most likely outlook shows that AVAX price will continue to correct in the near future. In terms of cryptocurrency, the potential target for this decline is the $22-24 range. The bearish view will be invalidated if the price rises above the recent high of $41.94.
The opinions and predictions in the article belong to the analysts and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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